Which of the Following Does Not Contribute to GDP

question 109

Multiple Choice

Which of the following does not contribute to GDP?

• A) You lose $50 playing cards with friends.
• B) You pay a doctor $200 to treat an arm that you broke in an accident.
• C) You pay $300 for this month's rent on your apartment.
• D) Your economics textbook is revised, and you buy the new edition.

Understand the effects of buying and selling portions of investments on the investment account balance.

Understand and apply the equity method for accounting for investments.

Prepare journal entries related to equity method investments including initial recognition, recognition of investee's net income or loss, and dividends received.

Calculate and defer gross profit on inter-entity inventory sales and recognize it appropriately in subsequent periods.

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Definitions:

Silica Tetrahedra

The basic structural unit of silicate minerals, consisting of four oxygen atoms surrounding a single silicon atom.

Silicate Minerals

A group of minerals that contain silicon and oxygen, usually with other metals, forming the largest and most important class of minerals on Earth.

Double Chains

Structures consisting of two parallel chains of atoms or molecules bonded together, often found in silicate minerals.

Silicon Tetrahedron

A structural unit in silicate minerals, consisting of a central silicon atom covalently bonded to four oxygen atoms at the corners of a tetrahedron.